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29 days left for lawmakers to get together and some way find a way of avoiding the "fiscal cliff." >> if a budget plan is in the approved by year's end, automatic tax hikes and across- the-board spending cuts will take effect. treasury secretary timothy geithner says republicans should say how much they are willing to raise taxes on the wealthy. house speaker john boehner has dismissed president obama's plan as not serious. >>> stock futures indicate there will be modest gains when the stock market opens up this morning. >> yeah. this follows a week when all the key averages posted gains. ashley morrison of has the latest on monday in new york. good morning. >> reporter: good morning, frank and michelle. well, asian markets were mostly high they are morning on improved manufacturing data from china. tokyo's nikkei edged up a fraction to a seven month closing high while hong kong's hang seng lost a percent. >>> on wall street there was little movement as investors were cautious with all eyes on the "fiscal cliff." the dow rose 3, nasdaq down 2. >>> so far there's
are planned or capitol hill today in an effort to avoid that dreaded "fiscal cliff." the treasury secretary tim geithner and another man will visit separately with house and senate leaders to find common ground on how to avert a series of tax increases and spending cuts beginning in january. >>> president obama will have lunch in just a few hours with mitt romney. it will be the first time they have met face to face since the final debate shortly before this month's election. the event will be held at the white house. it is private, no aides present, no media, just the president and the former gop nominee. they will hash it out. >> should be interesting. >> maybe he will bring mitt into the fold. who knows. >> we'll see. >>> just from the labor department the number of americans filing first time unemployment claims fell last week. the decline comes as impact of superstorm sandy eases a bit. this morning, stock futures are moving higher on encouraging news from washington on the "fiscal cliff" issue. ashley morrison of joins us. good morning, ashley. >> reporter: good morn
. the nasdaq finished 20 points higher. >>> and president obama presented his plan to avoid the "fiscal cliff" to members of congress. the $4trillion plan includes $1.6 trillion in new taxes on upper income americans. $400billion in cuts to medicare and other entitlement programs. $50billion in stimulus spending and the end of congressional control over the debt ceiling. both sides remain at a standoff over the issue of raising taxes on higher income earners. but the president said he will not sign any bill that does not include higher taxes for top earners. the white house is calling this proposal an opening bid but house speaker john boehner says no real progress is being made to reach a deal. could be an interesting day for us on wall street. >> i guess. they have a month to figure that out. in the meantime though there's a secret santa. i guess santa decide to do a little early work in the tri- state area, right? >> reporter: that's right. a so-called secret santa is giving away $100,000 in $100 bills to victims of superstorm sandy. a missouri man declined to reveal his name but he is car
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